VANESSA A
Nyakishenyi Boda Boda Co-operative Savings and Credit Society Ltd held its 5th Annual General Meeting.
During the meeting held at the sub-county headquarters, the chairperson of the association, who founded the SACCO, Atukwase Charles Karoli, advised members to go back and create income-generating projects which will provide them with income and help sustain the SACCO and their personal development.
He further appealed to the members, noting that the SACCO belongs to them and it is their responsibility to develop it by recruiting more members, buying shares, and ensuring that defaulters pay back their loans. He added that they are ready to carry out sensitisation to guide people on how they can develop through agriculture.
The Board Chairperson, Mr Niwabine Caleb, thanked members for the support rendered to the SACCO, as well as appreciating the founders of Nyakyishenyi Boda Boda SACCO. He noted that the SACCO has grown in membership, from 293 members to 1,348 members, with a budget estimate of 51,700,000 Shs for January to December 2026.
On the achievements, Niwabine highlighted that the SACCO has acquired a computer set and a printer. Loans have been increased from one million to three million shillings. He noted that as the SACCO continues to grow, there will be a need to recruit new staff.
Niwabine further noted a few challenges the SACCO is facing, including dormant accounts, delays in loan repayment, and limited funds to lend to clients. Regarding future plans, he said they are looking forward to expanding the SACCO by introducing motorcycle loans, and that the SACCO has resolved to facilitate delegates twice in the financial year.
The Manager of Nyakishenyi Boda Boda SACCO, Crispus Gareeba, appealed to those who have not yet joined the SACCO to consider joining so they can benefit from services such as quick loans at lower interest rates calculated on a reducing balance method.
He further urged loan defaulters to repay their loans to enable the SACCO to support other members in need, and encouraged existing members to bring more people on board.
